Ethereum is the second-largest cryptocurrency around the world. It has gained a lot of popularity because of the technically advanced it is and the system it uses. It is easier to mine ethereum than Bitcoin. The system that you need to mine ethereum is comparatively inexpensive than system needed for Bitcoin. For ethereum mining, you can also use GPU system.
You can easily convert your ethereum into Bitcoin, so many people mine ethereum and exchange them with Bitcoin and then sell those. You can get greater returns if you follow this way. People who bought $10 worth of ethereum coins made $10,000 from them. The Cryptocurrency market is very volatile, but the volatility can be in your favor, so it is worth the investment.
Ethereum Price Prediction for 2020
Bobby Ullery is a renowned predictor in the cryptocurrency world. He has made many good predictions that have come true. He says that the global economy and Blockchain technology will have massive impact on international trade and cryptocurrency.
He calculated that Bitcoin and ethereum 25% of the market share in the cryptocurrency market. Which in amount, are around 4.5 trillion dollars, and the market cap may increase in the future?
Long Forecast has more of a negative prediction about ethereum. They say that in January ethereum will become $725 by mid 2020 it will become $474, and the maximum it will hit in 2020 will be $672.
All these ethereum prices are lower than ethereum’s all-time high, seen in 2017. They say ethereum might never hit its ultimate high in the future because of Bitcoin, but the predictors are not confident about this prediction.
CoinKir uses technical price analysis methods by comparing old trends. This is one of the most common techniques people use. This prediction is more viable for foreign exchange than cryptocurrency market. The foreign exchange has been in the world for more than 50 years, whereas the cryptocurrency is very new.
CoinKir says ethereum price will increase up $1488 in the coming year. Ethereum is moving towards success, and many people are interested in investing in the market. They say the ethereum prices will double in the coming future.
Bitcoin is the largest cryptocurrency around the world. However, ethereum is also coming very close. The ethereum price has a big effect on the market, and many people want to be engaged in the market. Many people use ethereum coin buying as a gateway to get into Bitcoin. Ethereum can easily be exchanged with Bitcoin, so it is very viable for people.
It is very difficult to make any predictions about cryptocurrencies because of their unstable nature. Their price shifts on a day-to-day basis, which fears the investor they are more interested in investing in foreign exchange market.